So a Farmer Walks Into a Bar...

While it may seem like an afterthought, the price action in many fertilizer and agribusiness plays in general lately has been no joke. 

Indeed, the likes of ADM BG CF MOS NTR, among others housed in the MOO ETF for agribusiness (below, on the daily timeframe) has been the epitome of relative strength to the broad market over the last several sessions. 

Another ETF worth watching to play catch-up too MOO is the DBA ETF which includes soft commodity futures. 

In general, though, the ags ought to benefit in a reflation/inflationary cycle which could easily be in its very early phases. 

As for the tape overall, bulls stepped in this afternoon around the 200-day moving average on IWM to stem the tide of selling for now. But, as always, confirmation in the coming days will be necessary.